MIRA
INFORM REPORT
|
Report Date : |
06.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
PHOTONICS SCIENCE CO., LTD. |
|
|
|
|
Registered Office : |
9/10 Chaokhun Taharn
Road, Klongsamprawes, Ladkrabang,
Bangkok 10520 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
11.03.2003 |
|
|
|
|
Reg. No.: |
0105546030428 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Equipment Importer,
Distributor and Service
of Laser Machines
and Related |
|
|
|
|
No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
THAILAND - ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise
economy, generally pro-investment policies, and strong export industries,
Thailand achieved steady growth due largely to industrial and agriculture
exports - mostly electronics, agricultural commodities, automobiles and parts,
and processed foods. Thailand is trying to maintain growth by encouraging
domestic consumption and public investment to offset weak exports in 2012.
Unemployment, at less than 1% of the labor force, stands as one of the lowest
levels in the world, which puts upward pressure on wages in some industries.
Thailand also attracts nearly 2.5 million migrant workers from neighboring
countries. The Thai government is implementing a nation-wide 300 baht ($10) per
day minimum wage policy and deploying new tax reforms designed to lower rates
on middle-income earners. The Thai economy has weathered internal and external
economic shocks in recent years. The global economic crisis severely cut
Thailand's exports, with most sectors experiencing double-digit drops. In 2009,
the economy contracted 2.3%. However, in 2010, Thailand's economy expanded
7.8%, its fastest pace since 1995, as exports rebounded. In late 2011 growth
was interrupted by historic flooding in the industrial areas in Bangkok and its
five surrounding provinces, crippling the manufacturing sector. Industry
recovered from the second quarter of 2012 onward with GDP growth at 5.5% in
2012. The government has approved flood mitigation projects worth $11.7
billion, which were started in 2012, to prevent similar economic damage, and an
additional $75 billion for infrastructure over the next seven years with a plan
to start in 2013.
|
Source
: CIA |
Company name
PHOTONICS SCIENCE
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 9/10
CHAOKHUN TAHARN ROAD,
KLONGSAMPRAWES, LADKRABANG,
BANGKOK 10520
TELEPHONE : [66] 2172
8577-8, 081 931-2279
FAX : [66] 2172-8579
E-MAIL ADDRESS : sales@photonics-science.com
service@photonics-science.com
laser@photonics-science.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2003
REGISTRATION NO. : 0105546030428
TAX ID NO. : 3030868015
CAPITAL REGISTERED : BHT.
15,000,000
CAPITAL PAID-UP : BHT.
15,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SURIN CHAOWALIT,
THAI
MANAGING DIRECTOR
NO. OF STAFF : 60
LINES OF BUSINESS : LASER
MACHINES AND RELATED
EQUIPMENT
IMPORTER, DISTRIBUTOR
AND SERVICE
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on March
11, 2003 as
a private limited
company under the
name style PHOTONICS SCIENCE CO.,
LTD., by Thai groups,
with the business objective to import and distribute laser
machines and related equipment for various
industries. It currently employs
approximately 60 staff.
The subject’s registered
address was initially
located at 107/13
Romklao Rd., Minburi,
Bangkok 10510.
On September 15, 2008, it
was relocated to 9/10 Chaokhun
Taharn Rd., Klongsamprawes, Ladkrabang,
Bangkok 10520, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kamnueng Visalsaowapark |
|
Thai |
48 |
|
Mr. Surin Chaowalit |
|
Thai |
43 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Surin Chaowalit is
the Managing Director.
He is Thai
nationality with the
age of 43
years old.
Mr. Chaipol Mahamongkolsawad is
the Marketing Director.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged
in importing and
distributing wide range
of laser machines
and related equipment
as the followings:
1. Laser
- Fiber
lasers, Cw Nd
: YAG lasers,
Pulsed Nd : YAG lasers,
Q-switched lasers,
gas lasers,
laser marking, laser
cutting/engineering, laser welding
machine,
jewelry/dental laboratory
laser system.
2. Scanner & spare parts
- Galvanometer scanner,
2D scan system,
3D scan system,
dynamic focusing units
vario scan
and control boards.
3. Laser optics and
spare parts
- Achromatic lasers,
focusing lens and
scanning mirror
4. Software for
optical system design,
under the name
“ZEMAX”
5. Spare parts
- Filters,
flash lamps, diode
modules, cleaning kits,
energy meters, safety
glasses.
The subject is also
providing design, installation and maintenance
service for robot
cut, robot cut
plast, optic mark,
laser welding, laser
cutting system, laser
engraving system, marking
and engraving laser.
Its products are
mainly supplied to
automobiles, jewelry, electronics,
foods, pharmaceuticals and
metal works industries.
MAJOR BRANDS
“I WELD”, “MARK”, “MELALEX”,
“ROYJET”, “BRIGHTSTAR”, “I MARK”, “ZEMAX” and
etc.
IMPORT
Most of the
products are imported
from U.S.A., Germany,
Taiwan, Singapore and
Japan.
MAJOR SUPPLIERS
Wavelab Scientific Pte.
Ltd. : Singapore
GSI Group : U.S.A.
Laser Star Technolgies Corporation :
U.S.A.
Scanlab AG. : Germany
Robot Technology GmbH. : Germany
Radiant Zemax Inc. : U.S.A.
Reis GmbH. : Germany
IPG Laser GmbH. : Germany
IPG Photonics Corporation : Singapore
SALES
100% of the
products is sold
and serviced locally
to manufacturers, dealers
and end-users.
RELATED AND AFFILIATED COMPANY
P.T.G. Precision Co.,
Ltd.
Advanced Mechatronics &
Automation Co., Ltd.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past five years.
Others
There are no
legal suits filed
against the subject
for the past
two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of 30-60 days.
Imports are by
L/C at sight
or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Ladkrabang Industrial
Estate Branch, Chalongkrung
Rd., Ladkrabang, Bangkok]
EMPLOYMENT
The subject employs
approximately 60 staff.
LOCATION DETAILS
The premise is owned for
administrative office and
showroom at the
heading address. Premise
is located in
commercial/residential area.
Branches:
Bangrak Branch : Unit
603, 6th Flr.,
Sirikorn Bldg., 116 Mahaseth
Rd., Siphraya.
Bangrak, Bangkok
10500.
Tel.
[66] 2631-8828-9, Fax.
[66] 2681-8830.
Bangkapi Branch : Unit
0219-0220, B1st Flr.,
Pantip Plaza Bldg.,
3191-3191/1 Ladprao Rd.,
Klongchan, Bangkapi,
Bangkok 10230.
Tel. [66]
2187-3135, Fax.
[66] 2187-3136.
Chiangmai Branch
: 411/24 E8, Star
Avenue Bldg., Mahidon
Rd., T. Thasala, Muang,
Chiangmai 50000.
Tel. [66] 53
245-931-2, Fax. [66] 53 245-933.
COMMENT
Laser has been
increased its performance
in most industries
from beauty and
medical to heavy
industry. With various types of
laser has turned
to modern technology
for people’s lifestyle. Laser for
industrial used has
been in market
for many years
with gradually improved of
its scope of works. Besides the
leading company in
providing industrial laser machine, subject also has
the skill, knowledge
and expertise to support
its customers in
laser processing.
Subject had an
outstanding business in
the previous years,
while its business
in 2014 would have
some affect from
political conflict and
economy slowdown.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares of Bht. 100 each.
The capital was
increased later as
follows:
Bht. 3,000,000
on October 28,
2004
Bht. 15,000,000
on November 7,
2012
The latest registered
capital was increased
to Bht. 15,000,000 divided into
150,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED
WERE
[as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kamnueng Visalsaowapark Nationality: Thai Address : 32/54
Moo 1, Klongluang,
Pathumthani |
30,000 |
20.00 |
|
Mr. Surin Chaowalit Nationality: Thai Address : 94/498
Moo 4, Lampakchee,
Nongjok, Bangkok |
30,000 |
20.00 |
|
Mr. Chaipol Mahamongkolsawad Nationality: Thai Address : 422/57
Moo 11, Sansaeb,
Minburi, Bangkok |
30,000 |
20.00 |
|
Mrs. Poolsuk Wannasuphoprasit Nationality: Thai Address : 694/17
Petchburi Rd., Ratchathewee, Bangkok |
30,000 |
20.00 |
|
Mr. Wuthichai Sangkasap Nationality: Thai Address : 404
Moo 13, T. Wadsai,
A. Muang, Nakornsawan |
30,000 |
20.00 |
Total Shareholders : 5
Share Structure
[as at April
30, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
150,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
150,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Mrs. Patchara
Charoonwuthatham No. 5581
BALANCE SHEET [BAHT]
The latest
financial figures published
for December 31,
2012, 2011 & 2010
were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
6,426,113.00 |
663,538.30 |
468,972.30 |
|
Trade Accounts & Other Receivable |
|
|
|
|
Trade Accounts
Receivable |
8,018,981.88 |
10,448,150.52 |
8,025,283.72 |
|
Other Receivable |
845,961.50 |
1,577,028.80 |
- |
|
Inventories |
18,755,227.09 |
22,816,071.58 |
17,884,586.11 |
|
Other Current Assets
|
- |
- |
1,434,108.00 |
|
Total Current Assets
|
34,046,283.47 |
35,504,789.20 |
27,812,950.13 |
|
|
|
|
|
|
Fixed Assets |
44,635,608.47 |
40,720,899.98 |
41,010,254.35 |
|
Other Assets |
949,222.00 |
846,890.00 |
841,560.00 |
|
Total Assets |
79,631,113.94 |
77,072,579.18 |
69,664,764.48 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft |
12,943,924.08 |
18,737,470.18 |
15,297,934.74 |
|
Trade Accounts & Other Payable |
|
|
|
|
Trade Accounts
Payable |
5,048,620.03 |
7,140,314.04 |
2,763,120.61 |
|
Other Payable |
6,955,897.22 |
622,911.51 |
- |
|
Current Portion of Financial Lease Contact Payable |
92,265.88 |
88,069.52 |
537,190.82 |
|
Current Portion of Loan
from Financial Institutions |
5,577,777.73 |
4,573,178.05 |
4,350,965.85 |
|
Short-term Loan from
Related Company |
18,950,000.00 |
31,950,000.00 |
23,250,000.00 |
|
Accrued Income Tax |
333,141.85 |
- |
- |
|
Other Current Liabilities |
- |
63,111,943.3 |
2,386,843.29 |
|
Total Current Liabilities |
49,901,626.79 |
63,111,943.30 |
48,586,055.31 |
|
Financial Lease Contract
Payable, Net |
104,940.30 |
197,206.53 |
- |
|
Long-term Loan from Financial Institutions, Net |
5,999,626.12 |
9,732,096.62 |
14,218,703.64 |
|
Employee Benefits Liabilities |
820,263.00 |
667,077.00 |
- |
|
Total Liabilities |
56,826,456.21 |
73,708,323.45 |
62,804,758.95 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 150,000 shares
in 2012; 30,000 shares in
2011 & 2010 |
15,000,000.00 |
3,000,000.00 |
3,000,000.00 |
|
Capital Paid |
15,000,000.00 |
3,000,000.00 |
3,000,000.00 |
|
Retained Earning -
Unappropriated |
7,804,657.73 |
364,255.73 |
3,860,005.53 |
|
Total Shareholders' Equity |
22,804,657.73 |
3,364,255.73 |
6,860,005.53 |
|
Total Liabilities &
Shareholders' Equity |
79,631,113.94 |
77,072,579.18 |
69,664,764.48 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Services |
131,367,589.49 |
72,718,229.71 |
74,247,278.73 |
|
Other Income |
|
|
|
|
Gain on
Exchange Rate |
125,644.40 |
- |
217,810.25 |
|
Gain on Disposal
of Assets |
391,947.76 |
- |
- |
|
Others |
882,360.96 |
4,636,425.22 |
3,112,234.41 |
|
Total Revenues |
132,767,542.61 |
77,354,654.93 |
77,577,323.39 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
89,455,551.25 |
51,986,789.28 |
51,272,361.37 |
|
Selling Expenses |
4,345,041.73 |
1,788,302.55 |
2,378,777.77 |
|
Administrative Expenses |
27,142,043.58 |
24,124,027.67 |
22,224,301.17 |
|
Others |
- |
817,732.04 |
- |
|
Total Expenses |
120,942,636.56 |
78,716,851.54 |
75,875,440.31 |
|
Profit / [Loss] before
Financial Cost & Income Tax |
11,824,906.05 |
[1,362,196.61] |
1,701,883.08 |
|
Financial Cost |
[3,434,861.80] |
[2,133,553.19] |
[1,958,584.04] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
8,390,044.25 |
[3,495,749.80] |
[256,700.96] |
|
Income Tax |
[949,642.25] |
- |
- |
|
Net Profit / [Loss] |
7,440,402.00 |
[3,495,749.80] |
[256,700.96] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.68 |
0.56 |
0.57 |
|
QUICK RATIO |
TIMES |
0.31 |
0.20 |
0.17 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.94 |
1.79 |
1.81 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.65 |
0.94 |
1.07 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
76.53 |
160.19 |
127.32 |
|
INVENTORY TURNOVER |
TIMES |
4.77 |
2.28 |
2.87 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
22.28 |
52.44 |
39.45 |
|
RECEIVABLES TURNOVER |
TIMES |
16.38 |
6.96 |
9.25 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
20.60 |
50.13 |
19.67 |
|
CASH CONVERSION CYCLE |
DAYS |
78.21 |
162.50 |
147.10 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
68.10 |
71.49 |
69.06 |
|
SELLING & ADMINISTRATION |
% |
23.97 |
35.63 |
33.14 |
|
INTEREST |
% |
2.61 |
2.93 |
2.64 |
|
GROSS PROFIT MARGIN |
% |
32.97 |
34.89 |
35.43 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.00 |
(1.87) |
2.29 |
|
NET PROFIT MARGIN |
% |
5.66 |
(4.81) |
(0.35) |
|
RETURN ON EQUITY |
% |
32.63 |
(103.91) |
(3.74) |
|
RETURN ON ASSET |
% |
9.34 |
(4.54) |
(0.37) |
|
EARNING PER SHARE |
BAHT |
49.60 |
(116.52) |
(8.56) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.71 |
0.96 |
0.90 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.49 |
21.91 |
9.16 |
|
TIME INTEREST EARNED |
TIMES |
3.44 |
(0.64) |
0.87 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
80.65 |
(2.06) |
|
|
OPERATING PROFIT |
% |
(968.08) |
(180.04) |
|
|
NET PROFIT |
% |
312.84 |
(1,261.80) |
|
|
FIXED ASSETS |
% |
9.61 |
(0.71) |
|
|
TOTAL ASSETS |
% |
3.32 |
10.63 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 80.65%. Turnover has increased from THB
PROFITABILITY : SATISFACTORY
PROFITABILITY RATIO
|
Gross Profit Margin |
32.97 |
Acceptable |
Industrial Average |
60.25 |
|
Net Profit Margin |
5.66 |
Satisfactory |
Industrial Average |
5.91 |
|
Return on Assets |
9.34 |
Acceptable |
Industrial Average |
12.90 |
|
Return on Equity |
32.63 |
Impressive |
Industrial Average |
27.76 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from revenues after accounting for
the cost of goods sold. Gross profit margin serves as the source for paying
additional expenses and future savings. The company's figure is 32.97%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company may have problems with control over its costs.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company's figure is 5.66%.
When compared with the industry average, the ratio of the company was lower.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. When compared with the
industry average, it was lower, the
company's figure is 9.34%.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. Return on Equity ratio
is 32.63%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profits in a
dominant position within its industry.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.68 |
Risky |
Industrial Average |
1.76 |
|
Quick Ratio |
0.31 |
|
|
|
|
Cash Conversion Cycle |
78.21 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's
figure is 0.68 times in 2012, increased from 0.56 times, then the company may
not be efficiently using its current assets. When compared with the industry
average, the ratio of the company was lower.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 0.31 times in 2012,
increased from 0.2 times, then the company has not enough current assets that
presumably can be quickly converted to cash for pay financial obligations.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 79 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.71 |
Acceptable |
Industrial Average |
0.53 |
|
Debt to Equity Ratio |
2.49 |
Risky |
Industrial Average |
1.11 |
|
Times Interest Earned |
3.44 |
Impressive |
Industrial Average |
- |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the
shareholders have committed. A lower the percentage means that the company is
using less leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 3.45 higher than 1, so the company can pay interest
expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.71 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the average competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Downtrend
ACTIVITY : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.94 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.65 |
Satisfactory |
Industrial Average |
2.18 |
|
Inventory Conversion Period |
76.53 |
|
|
|
|
Inventory Turnover |
4.77 |
Satisfactory |
Industrial Average |
4.88 |
|
Receivables Conversion Period |
22.28 |
|
|
|
|
Receivables Turnover |
16.38 |
Impressive |
Industrial Average |
4.08 |
|
Payables Conversion Period |
20.60 |
|
|
|
The company's Account Receivable Ratio is calculated as 16.38 and
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has decreased from 160 days at the
end of 2011 to 77 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 2.28 times in year 2011 to 4.77 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.65 times and 0.94
times in 2012 and 2011 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the average competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.41 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.